Exim Bank's Line of Credit of USD 10 million to ABSA Bank Ltd., South Africa

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..... ised Dealers in Foreign Exchange Madam/Sirs, Exim Bank's Line of Credit of USD 10 million to ABSA Bank Ltd., South Africa Export-Import Bank of India (Exim Bank) has concluded an agreement with ABSA Bank Ltd., South Africa on July 4, 2003 making available to the latter, a Line of Credit (LOC) upto an aggregate sum of USD 10 million (U.S. Dollar ten million only). The Credit Agreement has b .....

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..... maximum extent of 5 per cent of the f.o.b. / c f / c.i.f. value in respect of goods exported and which require after-sales service. In such cases, commission will have to be paid in South Africa only by deduction from the invoice of the relevant shipment and the reimbursable amount by the Exim Bank to the negotiating bank will be 90 per cent of the f.o.b./c f /c.i.f. value minus the commission p .....

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